The taboo of sports betting is quickly fading away. What has been an unofficial tradition in countries around the world since the creation of sporting events, is becoming legitimized in the United States. Several states in the U.S. have already legalized sports betting, meaning this lucrative industry is ready for daring entrepreneurs to establish themselves before the market is saturated with competition. Despite the fact that the sports betting industry is big in other parts of the world, the United States has been slow to adopt the industry due to misinformation and outdated beliefs about sports betting.
Sports betting has gained an ugly reputation, linked to back-alley betting on fixed boxing matches or basketball games. The truth is that today’s sports betting is very subdued and organized. Like with most industries, legitimization has brought rules and regulations to the sports betting world, making sure all sports betting entities operate fairly and comply with local laws. And while sports betting certainly began with the exchange of cash, the majority of sports betting organizations accept plastic, especially since many operate over the internet.
The internet has changed the way sports betting operates. Now the flow of currency is a worldwide phenomenon with operating funds in the billions of dollars, meaning more high payouts for winners. This year, the 2014 World Cup saw the highest sports betting activity in history, in total more than 20 million bets. 75% of bets were made via the internet, and 60% of these bets were made using a mobile device. In fact, mobile bets were up 146% when compared to a similar time frame the year before.
It is only a matter of time before sports betting is legalized in all 50 states. Now is the time for you to start your sports betting merchant account with eMerchantBroker.com. Our expert account managers will bring around-the-clock service to your high risk merchant account. Sports betting merchant accounts will allow your business to accept plastic and other forms of payment from customers. Don’t limit your sports betting business to just cash.
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